Buffett Reduces Apple and American Express in Q2 2026, Strengthens Occidental
Berkshire Hathaway Reveals $263.1 Billion Portfolio as of June 30, 2026. The conglomerate reduced its stakes in Apple and American Express while strengthening positions in Occidental Petroleum and Chubb.
Berkshire Hathaway, led by Warren Buffett, reported a $263.1 billion portfolio in its Q2 2026 13F filing with the SEC. The filing, submitted according to available data, shows 26 positions, with 10 holding 91% of assets.
Warren Buffett, aged 95, is the CEO and chairman of Berkshire Hathaway. Known as the "Oracle of Omaha," he employs a long-term value strategy, focusing on businesses with sustainable competitive advantages (moat), strong cash flows, and capable management. His style is defensive, favoring sectors like consumer staples, finance, and energy. The portfolio is highly concentrated: the top 5 holdings account for 67% of assets. Buffett also holds record cash estimated at over $200 billion, signaling macroeconomic prudence.
Key New Positions and Strengthens
Berkshire did not open any significant new position in Q2 2026. Notable strengthens include Occidental Petroleum (OXY): the stake increased from 255 million shares to 264.9 million, a 3.9% rise. The value reached $17.22 billion, representing 6.5% of the portfolio. Berkshire now owns approximately 30% of Occidental. Buffett received SEC approval in 2022 to hold up to 50%. Chubb Ltd (CB) was slightly strengthened: 34.25 million shares vs. 34.1 million in the previous quarter, valued at $11.16 billion (4.2% of the portfolio). No other significant increases were observed.
Cuts and Exits - What Buffett is Leaving Behind
Apple Inc (AAPL) saw a massive reduction: Berkshire sold approximately 13% of its stake, reducing shares from 261.6 million to 227.9 million. The value dropped from $66.7 billion to $57.84 billion, but Apple remains the top holding at 22% of the portfolio. American Express (AXP) was cut by 2.5%: shares decreased from 155.5 million to 151.6 million, with value falling from $47.3 billion to $45.86 billion. Bank of America (BAC) was reduced by 3%: shares dropped from 529.6 million to 513.6 million, with value decreasing from $26.1 billion to $25.04 billion. Coca-Cola (KO) remained unchanged at 400 million shares, as did Chevron (CVX) at 84.4 million. Berkshire also reduced its Amazon (AMZN) stake by 2.1%, but the stock is not in the top 10. No full exits were reported.
Limitations of the 13F: What This Filing DOESN'T Say
The Form 13F is a quarterly filing requirement for asset managers with over $100 million in assets. It only reports long equity positions in U.S.-listed companies as of the last day of the quarter. Short positions, options, bonds, private investments, or foreign holdings are not included. Additionally, the filing is made 45 days after the quarter's end: Q2 2026 data (ending June 30) was published on August 15. Actions taken between June 30 and August 15 are not visible. Lastly, the 13F does not reveal the manager's intent or purchase cost. For a complete analysis, one must cross-reference with annual reports (10-K) and Buffett's comments at shareholder meetings.
